VCGSX Fees and Costs — Government Securities Fund
Data updated: 2026-09-28
The net expense ratio is 0.56%: a 0.50% management fee plus 0.17% other expenses, less a 0.11% fee waiver. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $2K in broker commissions, 0.0012% of average net assets, and portfolio turnover was 59%.
VCGSX Fees and Expenses
Annual operating expenses and sales charges of VCGSX. Prospectus, as of May 31, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.50% |
| 12b-1 fee | — |
| Other expenses | 0.17% |
| Gross expense ratio | 0.67% |
| Fee waiver | −0.11% |
| Net expense ratio | 0.56% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
VCGSX Costs Over Time
On $10,000 invested in VCGSX, assuming 5% a year before costs, total costs come to $354 over 5 years, cutting the return by 0.59% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Fund expenses (net expense ratio 0.56%) | $59 | $184 | $321 |
| Trading costs (broker commissions) | $0 | $0 | $1 |
| Lost growth on money paid in costs | $0 | $9 | $32 |
| Total costs | $59 | $194 | $354 |
| Value after costs | $10,441 | $11,382 | $12,409 |
| Impact on return, per year | 0.59% | 0.59% | 0.59% |
VCGSX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending May 31, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0012%
- Total broker commissions: $2K
- Bought from dealers (principal trades, not a cost): $1.3B
- Portfolio turnover (prospectus): 59%
- Securities on loan, average value: $4.5M
- Net income from securities lending: $6K (0.003% of average net assets)
VCGSX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| BofA Securities, Inc. | $2K | 100.00% |
VCGSX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $1.1B | 83.13% |
| Wells Fargo Securities, LLC | $41.9M | 3.27% |
| Citigroup Global Markets Inc. | $39.6M | 3.09% |
| BofA Securities, Inc. | $29.4M | 2.29% |
| Citadel Securities LLC | $22.9M | 1.79% |
| Morgan Stanley & Co. LLC | $22.5M | 1.76% |
| Goldman Sachs & Co. LLC | $20.1M | 1.57% |
| BNP Paribas Securities Corp. | $14.7M | 1.14% |
| Mizuho Securities USA LLC | $13.6M | 1.06% |
| BNY Capital Markets, LLC | $11.6M | 0.90% |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.